Standard Chartered has signed a Memorandum of Understanding (MoU) with the SIX Digital Exchange (SDX), to join its central securities depository platform (CSD). The agreement aims to expand the bank’s digital asset custody services, providing clients with access to Switzerland’s digital securities market. It will also collaborate on other SDX activities relating to crypto-assets. The move represents Standard Chartered’s latest step to expand its custody activities.
“We see SDX as a pioneer and leading institution for digital securities in Switzerland, and this next step in our journey supports our ambition to grow our digital asset custody offering and will unlock even greater opportunities for our clients,” said Margaret Harwood-Jones, Global Head of Financing and Securities Services at Standard Chartered.
Last year Standard Chartered launched digital asset custody services in the UAE, including partnering with crypto exchange OKX to provide custody to its institutional clients. It has since launched a Luxembourg subsidiary aiming to provide digital asset custody services and partnered with stablecoin issuers in Asia including Straits X and Paxos, although the services provided to the stablecoin issuers may be more conventional.
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